Maxine Park, solicitor and co-founder of transcription services provider DictateNow, explains how co-sourcing is revolutionising business.
Driving down costs through the outsourcing of back-office functions is established practice, but with modern business comes a unique set of challenges and opportunities that demands a different approach involving less risk and even better value for money.
Co-sourcing, where a business function, such as digital dictation and transcription, is performed by a combination of internal staff and external resources, is a cost-effective alternative to traditional outsourcing arrangements. A hybrid approach allows businesses to draw on additional resources to cope with increased workloads, without recruitment or training costs or payroll changes. Provision is seamless, coordinated and available around the clock.
Compared to outsourcing, there are also fewer data security and confidentiality considerations. In the case of dictation, experienced UK-based secretaries are granted secure, remote access to an organisation’s system to undertake remote typing and other support services, ensuring the client’s data never leaves their servers.
As part of the service, typists employed by the co-sourcing provider spend time at the client’s offices to ensure each member of the team is familiar with, and trained in, the systems, unique working methods and ethos of the organisation concerned.
To ensure the security of data, organisations considering co-sourcing should seek partners that have the new ISO 27001:2013 certifiation, which proves they operate an effective Information Security Management System and are registered with the Information Commissioner’s Office.
Value for money
Co-sourcing is also cost-effective:
Clients only pay for the working time of staff – not their National Insurance contributions, holiday pay or sick days;
Evaluations of cost versus output show co-sourced secretaries outperform their in-house counterparts by a wide margin; and
Co-sourcing makes evening and weekend working possible, with all the necessary security and compliance measures in place, without having to pay people overtime for working late.
The emergence of co-sourcing as a more cost-effective solution gives organisations the option to reduce their in-house secretarial and support staff and boost efficiency and profitability.
Implementing co-sourcing selectively allows clients to benefit from crucial administrative and management efficiencies, while freeing up internal teams to focus on their own jobs and more strategic objectives. It also enables clients to maintain control over the staff, technology and workflows that they develop and deploy and retain important knowledge in-house.
When to co-source
The ability to engage your co-sourced team for specific help, when it is needed, makes co-sourcing particularly helpful when there have been recent changes in your organisation; when you need more flexibility with audits; when new needs arise that in-house staff don’t have time to deal with; or when there are no funds for hiring new staff.
Outsourcing still has a role to play, but co-sourcing’s flexibility and value for money means that it is particularly well suited to the challenges businesses face today.
Maxine Park launched DictateNow to offer an enhanced transcription service to businesses in a wide range of sectors including legal, medical, public sector, charity and Government. DictateNow utilises home-based typists across the UK to provide fast, reliable and confidential digital dictation and transcription services, including the transcription of digital dictation files, copy typing, file opening, data input and document production.